Customers are turning to formal channels that use digital and mobile technologies for remittances because these are often able to offer services at lower costs. As more customers turn to formal services, remittances will have an even stronger developmental impact, notably in countries where protracted humanitarian crises affect large numbers of people.
Under the right circumstances, financial inclusion, stability, integrity, and consumer protection (collectively referred to as I-SIP) can be positively related, and the failure to consider any one of these objectives can lead to problems.
Over three-quarters of the population in Nigeria are involved in the agriculture sector. Yet despite their active financial and agricultural lives, smallholders in Nigeria have few tools to manage their irregular and volatile household cash flows.
This study aims to map the market system for DFS in WAEMU, including key actors in supply and demand, rules (e.g., regulations for e-money, telecommunications, competition), and supporting functions (e.g., agent networks, information providers); identify systemic constraints or root causes that explain why the DFS market is currently not serving the needs of low-income populations; and identify opportunities for triggering systems-level change.
Customer centricity allows organizations to better serve customers and solve the most common business challenges of acquisition, retention, and expansion. The CGAP Business Challenges Booklet offers guidance on how to overcome these three issues and shows how organizations have moved beyond them.
Financial service providers have a great opportunity to create value by designing and delivering customer experience based on a granular understanding of needs. The CGAP Customer Experience Toolkit equips organizations to create empowering customer experiences.